By james art Reaching $1.31 billion statewide, the Nevada Gaming Control Board saw a 3.3 percent increase in gaming profits for September. The increase in games breaks a two-month period of year-over-year declines. With a 33.1% increase in gaming profit, downtown Las Vegas casinos set the standard; Las Vegas Strip casinos reported a 1.8% decline. With a gaming profit of 12.4% for the month, Reno’s casinos also performed quite well.
Despite a strong win rate of 15.1% on total wagered, table, counter and card game profit fell 8.8% to $416 million. A 37% drop in baccarat winnings to $93.7 million and a 31% drop in Pai Gow Poker to $7.6 million helped fuel the decline. Buoyed by a 7.7% retention rate, slots saw a 10.1% increase in gaming revenue, which equates to $896.9 million. The overall increase in slots performance offset the decline in table games.
Among the mixed performance of the Nevada gaming market, investors are watching gaming companies including Caesars Entertainment ( NASDAQ:CZR ) , MGM Resorts ( NYSE:MGM ) , Boyd Gaming ( NYSE:BYD ) and Wynn Resorts ( NASDAQ:WYNN ) .
This article first appeared on GuruFocus.